Key Points:
Support is solidifying around $79K with 40,000 BTC accumulated.
The $82.08K cluster has seen heavy absorption of 51,000 BTC.
Resistance looms at $83.5K, backed by 48.5K BTC holdings.
Bitcoin’s price action is painting a clear story — strong hands are setting up camp at key levels. A cost basis snapshot reveals where buyers are stacking up, hinting at what could be next in BTC’s volatile trajectory.
Glassnode Highlights Accumulation Zones
Glassnode reports a firm build-up of support at the $79K level, where approximately 40,000 BTC has been accumulated.
Source:X glassnode
This level, visible in the chart’s blue-to-green transition zone, has acted as a cushion amid recent pullbacks. The cost basis distribution also shows a substantial absorption at the $82.08K mark, with 51,000 BTC concentrated there — suggesting this zone could act as a battleground for bullish continuation.
Data-Backed Resistance at $83.5K
The next critical price to watch is $83.5K, a region stacked with 48.5K BTC. This overhead cluster could serve as resistance if Bitcoin pushes upward again. The price briefly tested this area before retracing, highlighting how supply levels influence short-term movement. The chart illustrates how supply thins above this point, offering a potential runway if bulls succeed in flipping resistance to support.
Price Action Mirrors On-Chain Shifts
Between April 4 and April 11, the chart shows a tight interplay between price drops and zones with high supply concentrations. The sharp dip to $75K was quickly reversed as buyers stepped in, reinforcing the narrative of $79K acting as a support base. With historical volume now mapped to price levels, on-chain signals are offering clearer insight into likely short-term moves.
Meta description:
Glassnode highlights Bitcoin's strong $79K support as price eyes $83.5K resistance backed by key accumulation zones.
